United Airlines (UAL) expects Q1 total revenues of $3.2 billion

United Airlines (NASDAQ: UAL) disclosed:

As of March 31, 2021, United Airlines Holdings, Inc. ("UAL") and United Airlines, Inc., a wholly-owned subsidiary of UAL ("United," and together with UAL, the "Company") had $21 billion in available liquidity. Total available liquidity includes cash and cash equivalents, short-term investments and $1 billion available under the Company’s revolving credit facility, as well as $7 billion available under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) loan program.

For the first quarter of 2021, the Company expects to report total revenues of $3.2 billion, a decrease of (66%) versus the first quarter of 2019 and at the favorable end of our previous guidance of a decrease of (65%) to (70%) versus the first quarter of 2019. In March 2021, the Company observed a forward acceleration in customer demand for travel and new bookings, resulting in positive average daily core cash flow (as defined below) for the month of March 2021 and expected positive average daily core cash flow moving forward. Average daily core cash flow (or core cash burn) for the first quarter of 2021 is expected to be approximately negative $9 million per day, an improvement of about $10 million per day compared to the negative average daily core cash flow (or core cash burn) reported for the fourth quarter of 2020.

These results are preliminary and final results for the first quarter may change. These preliminary results are based upon our estimates and are subject to completion of our financial closing procedures. In addition, these preliminary results have not been audited by our independent registered public accounting firm. This summary of recent results is not a comprehensive statement of our financial results for the first quarter of 2021.

The information in this Item 2.02 is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section and shall not be deemed incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

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